By Julian Donnelly 16th August 2016 Who would have thought it after all this time? We have a female Prime Minister, a Labour Party in disarray, a turbulent economy with a negative outlook, and a tough talking leader stomping about the Kremlin keen to throw his weight around ….please tell me I didn’t […]
Read moreby Azra Malik, Director of Simple Resolve limited. Case Allen and another, Re Longmeade Ltd (in liquidation) [2016] EWHC 356 (Ch) (25 February 2016) (Bailii) The judgment is interesting because of its factual background, rather than any unique point of novelty in the decision itself: The main point of interest is the clear and concise statement by […]
Read moreBy Julian Donnelly 31st March 2016 Hot on the heels of a big change back on the 1st October 2015 where the minimum debt level required to go bankrupt was increased from £750 (where it had been since the introduction of the 1986 Insolvency Act) to £5,000, another big change will take […]
Read moreby Caroline Clark, Director of RMCSC Limited Insolvency practitioners, who have studied to pass the professional exams, will have learnt about insolvency legislation. This includes law and rules, Statements of Insolvency Practice, regulations, case law and the insolvency ethical code. The ultimate purpose of all this legislation is to ensure that insolvency practitioners do a good […]
Read moreby Mike Pavitt, Partner of Paris Smith LLP Solicitors So-called “Creditor Portals”, and other similarly titled electronic platforms by which insolvency practitioners typically circulate any meaningful information to creditors about insolvent estates, have been a bugbear of mine ever since they were first used a little while ago. Don’t get me wrong; I absolutely applaud the […]
Read moreBy Julian Donnelly 9th October 2015 I wrote back in July that it was seemingly likely that interest rates would go up either by the end of this year or early 2016. It now appears that the markets are not expecting a rate for another year possibly (I believe this was the same last […]
Read moreBy Julian Donnelly 1st October 2015 You may or may not be aware, but as of the 1st October 2015, the minimum debt level required to go bankrupt has been increased from £750 (where it had been since the introduction of the 1986 Insolvency Act) to £5,000. There are those that argue […]
Read moreBy Julian Donnelly 9th September 2015 In previous articles, we’ve looked at limited companies and directors liabilities as well as personal guarantees. In this piece, I’d like to look at one of the most common pitfalls directors face – overdrawn director’s loan accounts. For the uninitiated, the director’s loan account is an internal company account […]
Read moreBy Julian Donnelly 27th August 2015 So, you’re the director of a limited company and things aren’t going so well. You decided to close the business, but that’s ok as the debts are the company’s, not yours, right? Unfortunately, this isn’t always the case – there are circumstances where company directors can be held personally […]
Read moreBy Julian Donnelly 29th July 2015 In previous articles, we’ve examined such questions as “Should you go bankrupt?” and looked at issues such as “bankruptcy and your home”. In this article, we should look at another common element of personal bankruptcy (in England and Wales) called Income Payment Agreements/Orders – both ostensibly the same […]
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